Company announcement no 7 2011/12
Copenhagen, 21 June 2011
Interim Report for the period 1 February 2011 - 30 April 2011
Profit for Q1 2011/12 came to DKK 10.7m. Equity stood at DKK 893m, corresponding
to a book value per share of DKK 18,932.
The Board of Directors of Scandinavian Private Equity A/S (SPEAS) has today
considered and approved the Company's Interim Report for the period 1 February
2011 - 30 April 2011. The Interim Report has not been audited and contains the
following highlights:
* The Company recorded a net profit of DKK 10.7m for the period. Investments
in private equity funds generated a return of DKK 12.0m. Following the
placement of cash, net financials totalled DKK 0.7m.
* Investments in private equity funds amounted to DKK 766m, and SPEAS's
uncalled investment commitments totalled approximately DKK 249m, which the
funds may invest in new companies in the next few years.
* SPEAS has deposited DKK 123m with Danish banks and has furthermore
satisfactory credit facilities to cover the uncalled investment commitments.
* In Q1 2011/12 SPEAS contributed DKK 66.8m to the private equity funds in
accordance with the investment commitments made and received DKK 31.8m as
proceeds from the companies sold and recapitalisation.
* Equity stood at DKK 893m at 30 April 2011, equal to a book value per share
of DKK 18,932 against a share price of DKK 12,850 at 20 June 2011.
* In Q1 of the financial year, SPEAS bought back another 127 own shares
totalling DKK 1.5m, as the share price was attractive compared with the
Company's other investment alternatives.
* SPEAS maintains its forecast of a profit in the range of DKK 55m-65m for the
financial year 2011/12 ending on 31 January 2012. The results for the year
will depend on the development in financial markets.
For further information, please contact:
Ole Mikkelsen, CEO, tel +45 70 25 10 55, mobile +45 30 66 96 30
Yours sincerely
Scandinavian Private Equity A/S
Jens Erik Christensen Ole Mikkelsen
Chairman CEO
[HUG#1524588]
